1) Solutions for Addressing Black Money
An easy way to ban black money .RBI is going to introduce plastic currency . So govt should give a time period and announce of abolishing the old paper currency, and buy the time all citizens of the country are given a chance to deposit their liquid cash any amount with out any questions to the banks ,but the money without the source of income must be taxed more than 35%. After the alloted time the old currency will not have any value and there after only plastic currency will be available through the banks
By this all the black money will become wight and the govt will get huge tax amount. With this govt must limit the amount of liquid cash one can keep with him ,all other transaction must be E transaction more
By this all the black money will become wight and the govt will get huge tax amount. With this govt must limit the amount of liquid cash one can keep with him ,all other transaction must be E transaction more
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BLACK MONEY IS ISSUE,LETS INTRODUCE CREDIT CARDS AND DEBIT CARDS MACHINE AT EACH AND EVERY STORE,SHOP,ONLINE PAYMENT SYSTEM MANDATORY FOR HIGH VALUE TRANSCATIONS. more
Aug 30
Sir this effort will certainly help in getting black money in the economy but it will not clear the complete mess 1. Black money is not only value present in terms of physical currency but is also unaccounted money deposited in banks in India and abroad, so this money will not be affected by change in currency 2. Say for instance all unaccounted sum is made white for once, how can one guarantee that it is not regenerated again as government cannot restrict Supply of currency notes 3. Black money is generated just because of high taxation. Consider removing the web of excise, service tax, stamp duty, property tax, vat, sales tax, cst, octroi or Lbt with one very reasonable tax that evading tax becomes a dull prospect Reduce income tax to just 10% on income after 10 lacs and see the reduction in corruption, reduction in rates of food items due to hoarding, rise in bank deposites and boom in share market more
Aug 30
